The Global Generic Drugs Market will reach $199.2BN in 2014

Wednesday 2 April 2014, Amsterdam

A new report predicts that the world market for generic drugs will reach almost $200bn in 2014. This forecast and others appear in Generic Drugs: World Market 2014-2024 & Future Prospects for Leading Companies, published in February 2014.

Generic drugs are equivalent copies of original, usually patent-protected drugs, which contain the same active ingredients and closely match the original drug’s formulation, route of administration, safety and performance. These drugs account for the majority of all pharmaceutical sales by volume and offer higher growth potential than the branded pharmaceutical market, especially in emerging markets, in 2014-2024. Between 2014 and 2016, the new report estimates that originator drugs worth around $130bn in sales during the year before loss of market exclusivity are due to be opened up to generic competition.

Thomas Ling, a pharmaceutical and medical devices industry analyst explains: “The generic drugs market is expected to show high growth from 2014 to 2024. Growth will be driven by increasing demand for generic medicines, both in developed economies as a result of population ageing and cost-cutting pressures on healthcare systems, and in emerging markets as economic development and expanding healthcare access create opportunities for generic drug manufacturers. The industry is extremely competitive and faces very aggressive price cuts in markets such as India, South Korea and Turkey. This means pharmaceutical companies with a focus on generic drugs will need very efficient production and supply chain capabilities to succeed in this highly competitive and price-sensitive market.”

The 238 page report provides revenue forecasts to 2024 for the world generic drugs market and 14 leading national markets. The report forecasts sales for the US market, Japan, the leading EU markets of Germany, France, the UK, Italy and Spain, the BRIC markets of Brazil, Russia, India and China, and the emerging pharmaceutical markets of Mexico, South Korea and Turkey as well as RoW. The report also analyses the top 10 leading companies in the generic drugs market including Abbott, Actavis, Aspen, Fresenius Kabi, Hospira, Mylan, Novartis, Pfizer, Sanofi and Teva. It also discusses estimates of generic penetration by volume and by value for leading national markets, patent expiration dates for significant original drugs through to 2016, and relevant commercial news. The report includes 3 exclusive interviews with industry experts explaining current market trends. It also provides a SWOT analysis (assessing strengths, weaknesses, opportunities and threats) and a Porter’s Five Forces analysis to understand the degree of competitiveness in this market.

Generic Drugs: World Market 2014-2024 & Future Prospects for Leading Companies adds to the range of analytical reports on industries and markets in healthcare.